OpenBazaar, found online at OpenBazaar.org, describes themselves as “a free market for all, with no fees, and no restrictions” which can be easily downloaded for immediate trading and buying.
How Does It Work?
According to their website, OpenBazaar looked around the internet and saw all the different websites dedicated to helping people buy and sell items, and realized that they were all managed by corporations that had restrictive policies and charged fees for both listing and selling goods. They also require a lot of personal information about the people who buy and sell on their website.
OpenBazaar.org wanted to give people a totally different way to buy and sell online by creating a peer-to-peer marketplace where people are able to trade directly with each other, with no restrictions and no unnecessary fees.
To begin working on this platform, you will download and install a program on your computer that connects you directly to other people who are looking to buy and sell their goods and services. Buyers and sellers will negotiate directly with each other regarding prices and how the sale takes place, and they will only reveal the personal information that they choose to reveal.
This company charges their customers no direct fees to use their platform whatsoever. They also do not charge any transaction fees, and have actually designed their platform where the only form of currency accepted is Bitcoin. This is because all other forms of payment, including credit cards and Paypal, require that transaction fees be paid. This company wanted to create a completely free form peer-to-peer market, which they said could not be done with the traditional forms of payment.
This company charges no fees for the use of their platform and as such they cannot provide any refunds to their customers. In addition, their website says that all their purchases are handled directly in between the two parties that are negotiating their transaction.
However, they did make sure that their transactions use the multisignature format, which means that a third party is required to sign off on the transaction, and they will not do so until both the buyer and the seller agree, or until the third party has evaluated the situation and agreed with either the buyer or the seller. This is the only form of protection this website can offer their users.
Customer Service Contact Info
Customers who wish to contact Customer Service with questions, concerns, or complaints can do so by email at [email protected] or through their existing social media accounts.
Something that customers must be aware of before using this trading platform is the fact that this company does not have any regulator overseeing anything that happens on this website. While they do not encourage the trading or sale of illicit substances and services on their platform, they also do not restrict it. They are very clear that no one, except for law enforcement, will prevent or limit trades on this platform and so people have to be prepared for that kind of environment.
Competitors and Alternatives?
There are actually many different kinds of peer-to-peer marketplaces available on other websites, though this website is correct in saying that most other websites will have charges in place, even if those charges are only applied when transactions are made.
If you have experience with this company or their products, please leave your OpenBazaar reviews below.
1 ‘OpenBazaar’ Review
Open Bazaar. Hmmm...Waste of my time watching the hourglasses spin away.
No directions. GitHub page is unintelligible. Can't understand a word.
You get promised to shop bitcoin networks.
The server add button does not work. You can't add new bitcoin networks.
That seems to be the rub. Their scam.
You only get to shop their network. Not any store they promise.
You only get to search for their selected products.
Their store is OB1. You get stuck on one store only.
Everything else is BS. Does not exist. Does not work.
Is it Open Source if they charge fees?